Mackwoods majority shareholders uphold appointment of new directors

The majority shareholders representing 60 percent of the shares of Mackwoods Securities yesterday in a statement said Dr. Chris Nonis, who holds 29 percent of the company, failed in all five court cases instituted to prevent the appointment and functioning of three new directors to the Mackwoods board, representing the majority directors.

Contrary to the earlier statement by Dr. Nonis’ camp, the statement by the majority shareholders—Mary Jean Varma, F.G.N. Mendis and Nirmali Samaratunga—said the shareholders’ Extraordinary General Meeting (EGM) on July 7, 2016 was carried out “successfully and legitimately with the 60 percent majority shareholders passing three resolutions to appoint three Directors Mano Tittawella, Gen. Daya Ratnayake (Retired) and Shraepathy Attanayake.” “Dr. Nonis, having failed on all counts before the courts then made a desperate attempt to claim false victory and enforce his will by shamelessly confusing and misrepresenting to the public that the functioning of the three new directors is invalid due to the ongoing cases, by misrepresenting that ‘notice’ of an interim injunction was a ‘court order’ in his favour,” the statement added.

An earlier statement by Dr. Nonis’ camp stated that he had initiated legal action against those who sought to be appointed as directors. Mano Tittawella on Monday told Mirror Business that he had received notice of an impending hearing regarding an injunction to his appointment to the Mackwoods board. “Since the injunction has not been granted as at date, I guess my appointment along with the appointments of two others, stand as at the moment,” he said